SUGAR LAND, Texas, Sept. 16, 2014 /PRNewswire/ -- Skye
Petroleum, Inc. (Pink Sheets: SKPO) is pleased to announce that
revenues will exceed $500,000 in the
third quarter of 2014, an increase of more than ten times the prior
year's third quarter. Also, as of this date, sales in 2014
have increased nearly eight times sales through the first three
quarters of 2013. Skye received large orders for its Skye Chem
Wax Dispersant paraffin technology (WD-RTU), which was delivered
into the Permian Basin region of west Texas during the quarter.
Buck Eaton, Chief Operations
Officer of Skye Petroleum, said, "We are pleased with the
trajectory of sales at this point in the year. We are working hard
to continue the momentum into the fourth quarter and hope to
continue strong sales growth in 2015." Eaton further stated,
"We are beginning to expand our product line with a high quality
Degreaser, as well as drilling and completion technologies, that
are necessary in order to continue to penetrate and gain market
share."
The Company recently completed a very successful test on two oil
wells in the Coleman, TX area
using Skye Chem WD-RTU through Patriot Pump & Supply. Before
the treatment, the down hole pumps would require frequent pulling
and cleaning due to paraffin build up. After treating each oil well
with 10 gallons of WD-RTU, the pumps were cleaned down hole by the
chemistry and oil production increased significantly. Steve Hale, owner of Patriot, said, "Our
customers love WD-RTU and continue to come back for more." Skye
will be treating four more oil wells in the Coleman area next week.
Skye Petroleum recently completed a proof of concept test on a
pipeline in North Dakota using its
Sludge Buster chemical product. The test proved very
successful as the sludge was significantly reduced to the point
that the pipeline was able to flow without any inhibition. Skye has
been informed that another order will be placed soon to treat other
lines. Brandon Rhodes, Chief Development Officer of Skye
Petroleum, said, "We have been working toward proving out the
chemistry in other applications, beyond down hole, and this
pipeline result was very good. We anticipate this project expanding
significantly as we enter into a new phase with the pipeline
operator."
Gerald Weber, Chief Executive
Officer of Skye Petroleum, said, "We continue to see our
chemistries work well in different regions of the United
States. We started in Pennsylvania where we continue to see great
results. The results we are now seeing in North Dakota, and in the Permian Basin and the
Eagle Ford shale formations of Texas, continue to give us confidence that we
have broad based wax and asphaltene dispersants and inhibitors that
work well in numerous locations. This is important to know as we
begin to expand internationally."
Please visit the company web site, www.skyepetroleum.com or
contact Buck Eaton, COO, at
office@skyepetroleum.com or 281-265-1199. Skye Petroleum, Inc. is a
publicly traded corporation, listed on the "OTC Pink Current
Information" tier on the OTC Markets Group Inc. electronic
quotation venue, under the trading symbol, SKPO.
SOURCE Skye Petroleum, Inc.